The pace of growth in the U.S. services sector rose in August to its highest level since 2005.» Read More
The House of Representatives has approved legislation that extends popular tax breaks, opens the Gulf of Mexico to new oil and gas drilling and cancels a scheduled pay cut for doctors who treat the elderly under Medicare.
Here's our last look at the markets today--U.S. stocks rallied modestly after a better-than-expected U.S. jobs report sparked the first weekly gain in equities in the last month. Also--market moving comments heard on CNBC today from Treasury Secretary Hank Paulson sent the U.S. dollar higher. Mary Thompson has all the winners and loser - she's CNBC's "Eye On The Floor."
Good morning. We'll start with our quote of the day from journalist Barry C. Forbes: "Don't forget until too late that the business of life is not business but living." Something to remember for those working 10 hour days. Now--here's what's ahead for the day on cnbc.com and CNBC-TV.
The markets are more than likely gearing up for the most anticipated piece of economic data this week--that's the U.S. jobs report for November. It comes out Friday. CNBC's Steve Liesman gave a preview on "Power Lunch." Steve said the Dow Jones Survey of Economists sees job growth of 110,000 for November.
The Iraq Study Group is out with its findings. The questions remain: Will President Bush listen and what impact will this have on the U.S. economy. CNBC's John Harwood appeared on "Morning Call." Harwood said the report basically came down to a couple of major conclusions: more diplomacy is needed and a reduced role for U.S. troops by 2008.
The yield curve has not been this inverted (where short term interest rates are higher than long term) since December of 2000--and the last time around--that level of inversion foreshadowed a steep decline in the equity market.